Across the greater Brisbane area a whopping 90 per cent of properties flipped were sold at a profit. Regional Queensland flippers did well too, with 88.3 per cent of properties outside the southeast also bringing in a pay-day.
But it was Moreton Bay where profits were most prevalent, with 95.6 per cent of properties re-sold for a higher price within two years.
The Gold Coast had the greatest proportion of quick turnaround deals, with 7.9 per cent of all re-sales occurring within one and two years.
While Ipswich is where to look for speed flipping, with 92.7 per cent of properties resold in under a year recording a profit.
The figures come from a CoreLogic analysis, reported on news.com.au.
While the numbers are appealing flipping is not for the feint hearted.
Buying then selling in a rising market can help anyone pocket a profit but often flippers try to engineer a profit through renovations.
Unless you are a reno expert – or have expert help – costs can and often do spiral out of control.
Flippers also need to take into account the transaction costs including stamp duty and sales fees.
It’s also good to talk to your accountant about capital gains tax implications. If you sell your investment property within 12 months of purchasing it capital gains tax discounts won’t apply.
So if you want to pocket a flipping great profit for yourself, do you research, pull together an expert team and find yourself a flip-friendly rising market.